Asian Markets Mostly Higher Amid Cautious Trade
CANBERA (dpa-AFX) - Asian stock markets are trading mostly higher on Thursday, despite the lack of cues overnight from Wall Street, after the Beige Book revealed that the U.S. economy strengthened from late May to early July, with the pace of growth described as moderate to robust, boosting the prospects of a faster global economic rebound. Asian markets closed mostly lower on Wednesday.
However, the upside is capped as traders remained cautious amid mounting fears over the surge in the fresh wave of COVID-19 infections in several markets in the region and across the world. It is also feared that more countries will likely impose stricter restrictions and lockdown, which will hamper economic activity.
Japanese Market Modestly Lower
TOKYO (dpa-AFX) - The Japanese stock market is modestly lower on Thursday, extending the losses of the previous session, with the benchmark Nikkei 225 just above the 28,200 level, ignoring the positive cues overnight from Wall Street, as traders remain cautious amid the continued acceleration in the new wave of coronavirus cases, particularly in Olympic city Tokyo.
The Japanese government is planning to declare another COVID-19 state of emergency in Tokyo until August 22 to combat a recent surge in infections. The Tokyo metropolitan government reported 920 new infections on Wednesday, the highest figure since mid-May.
The benchmark Nikkei 225 Index is losing 158.91 points or 0.56 percent to 28,208.04, after hitting a low of 28,199.22 earlier. Japanese shares ended notably lower on Wednesday.
Asian Markets Mostly Lower Amid Virus Concerns
CANBERA (dpa-AFX) - Asian stock markets are trading mostly lower on Thursday, ignoring the positive cues overnight from Wall Street, as traders remained cautious amid mounting fears over the fresh wave of COVID-19 infections in several markets. More countries might look to impose stricter restrictions if the spread of the virus does not show signs of slowing, raising concerns about the pace of global economic rebound. Asian markets closed mixed on Wednesday.
The Australian stock market is slightly higher after giving up most of the strong early gains on Thursday, extending the gains of the previous session, with the benchmark S&P/ASX 200 staying above the 7,300 level, following the positive cues overnight from Wall Street, with technology and mining stocks providing the boost. However, the upside is capped amid concerns about the rising local coronavirus cases in New South Wales.
CANBERA (dpa-AFX) - Asian stock markets are trading mostly lower on Friday, following the negative cues overnight from Wall Street, due to sliding commodity prices on the back of a stronger US